Life insurance (or Life Assurance) is a contract between an insurance policyholder and an insurer or assurer, where the insurer promises to pay a chosen beneficiary a sum of money (the benefit) in exchange for a premium, upon the insured event (such as death/disability/debility) of an insured person (often the policyholder). Depending on the contract, Read more about Declaration of a chronic disease on an active life cover[…]
What is ceding/giving up an insurance policy? Ceding/giving up an insurance policy means that an insured person transfers his or her insurance right or benefit in a particular policy to another person as security for something they wish to get. For example: If Corrie, the insured person has a life policy at a company called Read more about Effects of ceding/giving up insurance/investment policies[…]
Cheezy’s show case: Part one What it means to know your rights and responsibilities Cheezy who had a long day with his colleagues at the office decided to make a turn at the super market before heading home, he was just about to leave his office, a door swung open and caused Cheezy to jump Read more about Know your rights and responsibilities[…]
Why should there be regulation and supervision of financial institutions? Regulation and supervision of financial institutions are a distinctively different set of activities. Regulation entails the setting of an appropriate legal framework (laws, regulations, standards, directives); setting the rules of engagement in the sector. Supervision of financial institution entails the implementation, monitoring and enforcement of Read more about As far as national objectives are concerned[…]